Gurugram’s Leasing Surge: Why Market Remains Strong Despite High Supply

By Prakash Mehta, CMD, Ocus Group

Gurugram has swiftly emerged as one of the country’s most dynamic commercial real estate hubs. Its transformation reflects a broader national trend with India’s top seven cities outpacing several global markets in rental and leasing activity.

According to a report by real estate services firm Vestian, Delhi-NCR, driven largely by Gurugram, recorded an impressive 8.2 per cent rental growth, highlighting the region’s growing prominence.

This momentum is underpinned by rapid urbanisation, robust economic growth and a thriving corporate ecosystem.

Gurugram, in particular, has become a magnet for multinational corporations, start-ups and institutional investors thanks to its strategic location, modern infrastructure and business-friendly environment. Its rise signals India’s strengthening position in the global commercial real estate landscape.

Prime Corridors Driving Growth

Gurugram’s commercial real estate momentum is fuelled by key emerging zones fast becoming preferred destinations for corporate offices and mixed-use developments. Areas like the Southern Peripheral Road (SPR), New Gurugram and the Dwarka Expressway are witnessing a wave of new commercial projects.

These corridors are rapidly transforming with robust infrastructure, modern office towers and integrated business hubs tailored to meet the evolving demands of both global and domestic enterprises.

What sets these locations apart is not just the scale of development but the emphasis on quality. Builders are increasingly investing in premium office spaces featuring cutting-edge technology, sustainable design and top-tier amenities. This shift toward high-quality, future-ready workspaces is positioning Gurugram as a competitive alternative to global business districts, attracting companies seeking a refined and efficient office environment in India.

Seamless Connectivity Meets Urban Comfort

Gurugram’s commercial success is not just driven by office space availability; it’s powered by a compelling blend of connectivity and lifestyle.

The city enjoys excellent access to Delhi through an expanding network of highways and metro corridors along with proximity to the Indira Gandhi International Airport. These factors significantly ease daily commutes and support efficient business travel, making Gurugram a strategic choice for companies seeking accessibility and reach.

Beyond its infrastructure, Gurugram offers an elevated urban lifestyle that appeals to modern professionals. With a growing portfolio of premium housing near commercial hubs, employees can enjoy short commutes and better work-life balance.

The city also features a dynamic social landscape with luxury malls, gourmet dining, green spaces and cultural attractions, contributing to a well-rounded living experience. This harmony of convenience and comfort strengthens Gurugram’s appeal as not just a business destination but a preferred city for talent and enterprise.

Flexibility Fuels Gurugram’s Co-Working Surge

Gurugram has firmly established itself as a leader in India’s growing co-working space market driven by the increasing demand for flexible office solutions. With businesses embracing hybrid work models, the need for adaptable workspaces has skyrocketed.

In 2024, co-working operators in India leased a record 12.5 million square feet of office space, marking a 44 per cent growth from the previous year. Gurugram has played a pivotal role in this surge, and its flexible workspaces have seen a 19 per cent rise in average monthly rentals from  INR 8,500 per seat in FY2020 to INR 10,100 in FY2024.

Co-working spaces in Gurugram are more than just functional workspaces. They offer modern amenities, collaborative environments and scalable office solutions catering to a diverse range of businesses, from startups to established corporations.

These spaces foster innovation, networking and a sense of community, making them an attractive option for professionals. With its strategic location, state-of-the-art infrastructure and growing business ecosystem, Gurugram leads in flexible office offerings, attracting both domestic and international investors looking for premium work environments.

In conclusion, Gurugram has solidified its position as one of India’s most thriving commercial real estate hubs driven by strategic growth corridors, high-quality infrastructure and seamless connectivity.

The city’s ability to offer a blend of modern office spaces, flexible co-working solutions and an elevated urban lifestyle makes it an attractive destination for both businesses and professionals.

Despite a significant rise in supply, Gurugram’s dynamic growth continues to outpace expectations, positioning it as a key player in India’s real estate sector and a magnet for domestic and global investors alike.